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PIA Press Release

Europe, biggest importer of Pangasius

by Prix D Banzon

Davao City (27 November) -- Europe is the biggest importer of Pangasius with Russia as the top importing country in 2006.

Eduardo Lazo, business development manager of Vitarich Corporation who presented "Business Opportunity in growing Dory Fish" at the Mindanao Investment Conference at the Marco Polo Davao on Tuesday, November 25, 2008 said that Dory Farming is one of the fastest growing aquaculture sectors with strong and increasing market demand from current important countries.

He said with this product there will be more potential countries for export development as only few countries dominate production.

The prospects are bright as it has several value-added products and options although it still has under developed local market.

Talking of current trends, he said local product can be potentially better than Vietnam products (where Dory originated).

"We could have the advantage as other Asian suppliers have spotty track record and poor image in US," he said.

He said some Chinese producers are indicted for false labeling, false weights, antibiotics while some Chinese suppliers are busted for using melamine and other chemicals.

"The Philippine opportunity is great with Pangasius considering its good relationship with the US", he said.

He also said that there is an increasing worldwide demand for the fish and the Philippines is suitable for Dory farming.

The Pangasius or "Fish Love" (the market name of the fish coming from Mindanao) was formally launched Wednesday, November 26, 2008 at the Marco Polo Davao and graced by Bureau of Fisheries and Aquatic Resources (BFAR) Director Malcom Sarmiento.

Mindanao Business Council chair Vicente Lao said there was a good number of entrepreneurs that were interested in propagating Pangasius. (PIA) [top]

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